Crown Resorts, the casino operator struggling with low visitation at its Sydney property, is set to implement job cuts and reduced working hours in an effort to mitigate its financial challenges. According to a report by The Sydney Morning Herald, the Sydney casino does not have enough visitors to justify its current 24/7 operating schedule.
The casino, which has already closed one of its gaming floors due to lack of demand, will now reduce its work hours and close down for eight hours every day. Under the new schedule, Crown Sydney will close at 2 am and reopen at 10 am from Monday to Thursday and on Sundays. On Fridays and Saturdays, the casino will close at 4 am instead.
As a result of the reduced operating hours, Crown Resorts is preparing to part ways with as many as 180 workers. This comes after the company has already cut a total of 275 jobs since the opening of the Barangaroo property in August 2022. The dismissed workers include those in frontline gambling-related roles as well as casino support and hospitality positions.
Crown Sydney has pledged to redeploy as many affected employees as possible to its other casinos in the state and to provide support to the rest.
The business troubles for Crown Resorts extend beyond the operational challenges at its Sydney property. The company has faced regulatory issues that led to changes in its leadership and the implementation of remediation measures. Additionally, Crown recently attempted to renegotiate a AUD 1 billion tax guarantee with the New South Wales government, but Premier Chris Minns indicated that the company should honor its agreement or return the land.
Further complicating matters for Crown, the company narrowly avoided a strike at its Melbourne property and is facing a lawsuit from a former guard who alleges unpaid wages. Meanwhile, one of Crown’s competitors, Star Entertainment, has also encountered similar challenges and recently sold one of its properties.
The news of job cuts and reduced hours at Crown Sydney underscores the ongoing difficulties faced by the company in a tough operating environment.